an ordinal one, when defining suitable approximations to expected utility values. Contrary to the standard literature … directly from the disconnectedness of the range of the utility functions. Conditions for the existence of minimal errors are … evaluation for two or more different prospects with the same expected utility value. As a consequence, a rational decision maker …

One of the most well-known models of non-expected utility is Gul (1991)'s model of Disappointment Aversion. This model …, however, is defined implicitly, as the solution to a functional equation; its explicit utility representation is unknown …